Korloff, one of the most renowned names in jewellery and watches, today inaugurated its largest flagship boutique in South East Asia at one of Kuala Lumpur's premier shopping centres, Starhill Gallery in the presence of guests of honour, Tan Sri (Dr) Francis Yeoh, Managing Director of YTL Corporation Berhad and Korloff’s founder and creator, Daniel Paillasseur.

Located on the Adorn Floor of the Starhill Gallery, the Korloff boutique stands luxuriously in 2,000 square feet and boasts an interior design concept of a combined art gallery and an exclusive jewellery boutique that is fashioned after the Korloff boutiques in France, Europe, USA and internationally.

Korloff, which stands for the highest standards in luxury is a project brought to Malaysia by LuxuryConcepts Watches and Jewellery Sdn Bhd, a forward looking and dynamic company.

According to Frank Low, Chief Executive Officer of LuxuryConcepts, the company aims to provide and broaden the Malaysian market with a selection of fine luxury offerings.

"Today marks the appreciation of Malaysia's growing association with fine luxury. Korloff brings something fresh and new to our Malaysian shores and we are confident that Korloff will help us achieve our objectives and will contribute positively to the growth and development of the luxury retail industry in Malaysia," said Low.

He added: “Korloff is a special brand; it’s unique. Starhill is a unique shopping complex in the world. There’s no other place like it – I’ve been to Tokyo, Paris, Milan… this is a unique shopping complex; and Korloff must be here!”

The Korloff boutique targets to tap into the growing sophisticated population of Malaysia, and is slated to provide the up-and-coming as well as the affluent and discerning lifestyle connoisseurs a different and unique approach in product design that is second to none.

Korloff provides an inimitable range of fine lacquer jewellery, the most exquisite unique range of timepieces, as well as a full repertoire of luxurious men and ladies' accessories, parfums, and fragrances and the newly launched Korloff haute couture.

The Korloff Boutique, which exudes a strong representation of the brand, carries a unique architecture that aptly matches its image-strong vertical lines and the discrete presence of its logo, the back-to-back 'K', a signature that represents the boundless spirit of creativity as embodied and expressed in its creator, Daniel Paillasseur.

The areas in the boutique are redefined and transformed into an art gallery concept envisioned to fulfil all the senses. Jewellery pieces that forms like art and its shapes accent the walls and create a modern aspect of mental suggestions. The clarity of the lines, the lights, background music, furnishings, colours, top-of-the-range materials including black tinted wood and smoked glass, and the concept of the space are all elements chosen to link the beauty of Korloff jewellery with well-being and to convey the Korloff spell of warmth in a luxurious setting.

"We can always identify the Korloff boutique and its product easily. Such is the power of the brand presence and identity that retain its soul in whatever form and shapes it manifests itself as aptly defined by Paillasseur himself – a brand is like a woman. She must have the same character, the same eyes, the same smile," explained Low.

"Customer satisfaction is also a priority for us. Every customer that walks in will feel like members of an exclusive club of connoisseurs. When they choose a Korloff piece, they are assured to benefit from the attentive service and availability of our boutique specialists," said Low.

Paillasseur takes Yeoh on a tour of the Korloff boutique.

More than 200 guests, customers, socialites and celebrities alike celebrated the opening of the Korloff flagship boutique. The evening featured two sparkling stars: acclaimed singer and musician, Syafinaz, who wore the other star of the evening, the exquisite 23-carat Korloff Yellow Diamond necklace.

The highlight of the evening:
the Korloff Yellow Diamond necklace.

While savouring beautiful jewellery and bubbly champagne in a wonderful Parisian-style ambience, the delighted audience also tasted their first showcase of the Korloff haute couture, when models in the luxurious dresses adorned with Korloff jewellery took to the stage.

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Paillasseur and Charmaine Low (centre)
with models in Korloff haute couture and jewellery.

Good afternoon members of the media, ladies and gentlemen. May I extend my personal welcome to Mr Daniel Paillasseur – President, Founder & Creator of Korloff and Ms Kareen Phelippe – International Marketing Director who have flown in especially for the official launch the Korloff boutique and their exclusive distributor for Malaysia and Singapore Mr Frank and Ms Charmaine Low.

We have established Starhill Gallery as an icon in Malaysia. Korloff in its own right is an international icon, they own an 88-carat black diamond, the Korloff Noir, one of the top 5 most rare gems in the world. Today, however, we are only privileged to see their 23-carat yellow diamond necklace. The Korloff Noir will make its journey to Starhill Gallery next year and Kuala Lumpur awaits this experience with unabated breath.

You will remember at this juncture what three famous women said about diamonds.

Mae West said, “I never worry about diets. The only carrots that interest me are the number of carats in a diamond” or Shirley Bassey who said, “Diamonds never leave you... men do!” or the more pragmatic Zsa Zsa Gabor who said, “I never hated a man enough to give him diamonds back”.

Korloff not only have iconic gems, they developed a “Korloff Cut” which is recognised and authenticated by the esteemed International Gemmological Institute, bringing another dimension to their brand that enhances their exclusivity which includes haute couture.

It is this unbridled passion in craftsmanship, marinated in mystery, romanticism and love that we at Starhill Gallery cherish and I am sure so are many collectors of Korloff masterpieces.

Starhill Gallery prides itself in securing exclusive brands and we are honoured that Korloff have chosen to work with us. Korloff has certainly contributed in materialising my dream of housing only the finest brands on a floor which we have named “ADORN”.

Yeoh with Syafinaz wearing
the Korloff Yellow Diamond necklace.

For those of you who are not aware, over 20,000 sq ft of retail space is dedicated to fine luxury watches. Korloff has beautifully contributed to make Starhill Gallery the “Largest Global Fine Watch Retailer” establishing a new benchmark in luxury retailing.

Finally, I would like thank you again for supporting Starhill Gallery and its exclusive tenants in our “Gallery of Rich Experiences”.

On a lighter note, “If wisdom and diamonds grew on the same tree we could soon tell how much men loved wisdom”. I certainly would not want to be a candidate for this testing but I am sure what my wife will choose.

Congratulations once again, enjoy this wonderful evening and may God bless you all.

Speech delivered by Tan Sri (Dr) Francis Yeoh
Managing Director, YTL Corporation Berhad
at the Official Opening of
Korloff's first and largest flagship boutique in Southeast Asia
at Starhill Gallery
on September 29, 2005

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In fairy tale-like setting, JeanRichard held the world premiere of the JeanRichard Minute Repeater at Starhill Gallery. With the theme “Mystical Garden of JeanRichard”, the evening saw Datuk Francis Sew of Swiss Union and Michel Santchi of JeanRichard playing host to Minister of Domestic Trade and Consumer Affairs, Datuk Shafie Apdal and his wife, Datin Shuryani Shuib.

When Daniel JeanRichard was making his first watches, the trade was at its very beginnings in the Neuchâtel mountains. Simple and sturdy timepieces were produced in those days, which represent the fundamentals of the patrimony we own today.

Three centuries have passed since then. Generations of watchmakers have grown this heritage: with time, watches got thinner, smaller and more sophisticated, in such a way that they could house even more complex mechanisms in even smaller volumes.

Continuing this tradition, JeanRichard presents a model fitted with one of the most sophisticated complications: the minute repeater. When creating this exceptional timepiece, it paid tribute to the man who gave his name to the brand.

That is why the crystal case back of the watch is protected by a grid whose design is inspired by the “****” of a piece Daniel JeanRichard produced in 1710. As it was usual, the design of this “****” was symbolic. Allusions to the French royalty, especially to Louis XIV are clearly noticeable.

Further, like its ancestor from 1710, the new model is fitted with an external adjustment device, allowing the owner to adjust himself the precision of the movement by means of a small key. This device, which was essential at that time, is fitted for the first time in a wristwatch, not out of necessity, but to add an aspect of play in the watch.

Another new element: the “cathedral” repeater mechanism, whose innovative conception allows a significant increase of the sound of the gongs, in comparison with similar watches produced until now.

The evening also showcased another range of JeanRichard’s masterpieces: the Milady watch which unveils the secret of the 4 Elements: air, fire, water and earth. With the Milady and its unique and original setting of precious stones, JeanRichard showcases its creativity and audacity. Each element has a distinctive character, like the women who will wear this timepiece.

Malaysia's jazz queen, Sheila Majid appeared with husband Acis accompanying her on the piano for a superbly polished performance that got the guests tapping their feet and singing along with some of the familiar numbers from her repertoire.

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“We certainly believe that Malaysia will maintain its leadership in the South-East Asian market for quite some time,” he told StarBiz.

Expressing confidence of a double-digit growth again this year, he believes the US$500 to US$5000 watch category will be the fastest growing in Malaysia because more and more young people are becoming affluent and quality conscious.

In Malaysia, TAG Heuer commands more than 25% of the market share in that category.

He said over the next five years, TAG Heuer aimed at becoming the number one player in the Malaysian market.

“The development in Kuala Lumpur is fantastic and the market is growing. It is a combination of the growth of the middle-class population, the propensity to spend, and the change in style and trend,” he said, adding that TAG Heuer was a key brand for the LVMH group.

“We had put in much effort in the past to build our brand equity in order to generate new growth,” Ravi said.

He observed that in a market like Malaysia, trends were changing.

“People are becoming more stylish, more fashion conscious and more trendy. At the same time, people are also becoming health conscious by going to the gym, or engaging in some form of exercise.

“They are conscious about healthy lifestyle and eating, and the trend is growing. So this is a fantastic combination for TAG Heuer because the brand reflects this lifestyle,” he explained.

Another key trend, according to Ravi, is women wearing big and sporty watches. Women buyers make up 40% of the market share in Malaysia and it is certainly growing.

TAG Heuer watches are targeted at individuals aged between 18 and 50 years.

“Those who are young and young at heart, trendy and stylish with a sporty attitude, fall into our target,” Ravi said.

Sports have been the core spirit of the brand since it began in 1860. He said TAG Heuer watches were a combination of sports and glamour

“Our communication strategy is always to reflect the spirit of the brand, which is youthfulness and stylishness. We always keep this in mind and that is why we use a mix of Hollywood and Bollywood celebrities and sports personalities in our advertising campaign,” Ravi said.

Some of its brand ambassadors include Uma Thurman, Brad Pitt, Shah Rukh Khan, Maria Sharapova, Tiger Woods, Juan Pablo Montoya, Yao Ming and Kimi Raikkonen. They were selected because of the kind of “spirit” reflected by them

For example, he said, Woods was the epitome of success and a “big icon”. He added that Woods had encouraged more young people to take up golf and set a new definition for golf that changed the game forever.

Ravi added that besides advertising the brand, these “ambassadors” were instrumental in developing watches as well.

He gave the Professional Golf Watch designed and developed with the help of Woods, as an example.

“Most golfers do not wear a watch because of the added weight on the wrist and the strap does not fit comfortably, but the watch developed with Woods meets the requirements of top-level golfers,” he said.

The recent opening of TAG Heuer’s Espace at Starhill Gallery, in addition to its other boutiques in Suria KLCC, Berjaya Times Square and KL Plaza, the brand is certainly here to stay.

Although TAG Heuer has its own boutiques, Ravi always believes in working with local retailers.

“We are proud to be partners with Swiss Union, a Malaysian-based retailer, and they complement our business here. They have a better connection with consumers and have a long-term interest in developing the local watch market,” he said.

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Nearly a year after his last visit to the JW Marriott Hotel Kuala Lumpur, international action superstar, ‘The Dragon’ Jackie Chan returns this time with Hong Kong movie director, Stanley Tong and Bollywood sex symbol, Mallika Sherawat. The trio was in town to promote their latest movie, The Myth, where a press conference and meet-the-fans sessions were also held at the hotel.

Playing two completely different characters in the movie, as the modern day archaeologist named Jack, and also as the ancient general, Meng Yi, Chan said that playing the general was a big challenge.

“In my last movie, New Police Story (2004), I played a very emotional character and could cry my heart out but here, General Meng Yi is a stoic character. I couldn’t cry or laugh or say ‘I love you’. It was a difficult role to play,” explained the 51-year-old actor during the press conference.

The Myth is a story about an intrepid archeologist Jack and ambitious scientist William (Tony Leung Kar Fai) who set out on an adventure that would lead them to the greatest discovery in Chinese history.

Their journey starts at Dasar, India, where they stumble upon an ancient sword from the Qin Dynasty and a magical gemstone that appears to be able to defy the force of gravity. The booty not only leads them to the mythical mausoleum, but it also connects Jack to his dark past life.

Through strange and provocative dreams, Jack sees himself reincarnated as Meng Yi, a general who fell for the First Emperor’s beautiful consort Ok Soo (Kim Hee Seon) some two thousand years ago. As Meng Yi commands his troops in an increasingly desperate war against rebels, he also has to battle his own inner desires in choosing between eternal love and loyalty.

Returning to the present day, the final secret of the First Emperor is about to be revealed. The two adventurers successfully enter the Heavenly Palace, a fortress loaded with death traps and unspeakable evils, as Jack comes face-to-face with his past.

For Tong, creating an extravaganza combining Chinese mythology with a breathtaking modern-day action adventure, The Myth is also one of the biggest movie sets he has directed.

What the audience see is just a small fraction of the movie, probably only a few seconds, said Tong, who had to work with 1,500 extra army actors, 150 horses and more than 300 working crew.

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It's connected to JW Marriott. ENAK is located at the underground floor.

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FRENCH label Lacoste celebrated the opening of its latest boutique in the posh grounds of Starhill Gallery, Kuala Lumpur, recently.

The premium sports and leisure wear with the prominent Crocodile logo is featuring its top five looks for fall/winter 2005 at the new outlet. Guests who were present to witness the launch had a chance to browse and check out the label’s new range.

Carole Ooi, managing director of Lacoste products sole distributor and licensee Miwaki Sdn Bhd, said Lacoste was enjoying a resurgence in popularity worldwide as a result of the preference for casual elegance in today’s dressing style.

“Seventy years after the creation of the brand, 30 million items are sold each year in 109 countries, 747 boutiques and 1,700 Lacoste corners worldwide,” she said.

“Lacoste has evolved from a sportswear label, founded by Rene Lacoste, into a trendy, spirited lifestyle name that appeals to all age brackets,” she added.

Ooi said the opening of the boutique in Starhill Gallery was in line with the direction for the brand to be showcased in the best retail location in each capital city. It is the fourth Lacoste store.

“Since the launch of Lacoste last year, we have seen a good local following and demand from international travellers.

“Retail pricing is competitive internationally and now Malaysians need not go overseas to buy the Lacoste products as they are available locally,” said Ooi.

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Pintar Projek Sdn Bhd, the manager of Starhill Real Estate Investment Trust (Starhill REIT) today announced the results of its initial public offering of 509,599,000 new units in Starhill REIT, with subscription rates of 6.27 times for the Retail Offer and 8.8 times for the Institutional Offer. Pintar Projek Sdn Bhd (Pintar Projek) is a subsidiary of YTL Corporation Berhad.

The initial public offering comprised a combined total of 509,599,000 units available under the retail and institutional offers. A total of 29,999,000 units were offered to the Malaysian Public under the retail offer (Retail Offer), whilst the remaining 479,600,000 units were made available to Malaysian and foreign investors under the institutional offer (Institutional Offer).

The subscription rate for the Retail Offer was 6.27 times, drawing over 22,800 applications from the public, seeking 218.2 million units.

Meanwhile, the final subscription rate for the Institutional Offer was around 8.8 times which was priced at RM1.01 per unit (Institutional Price), drawing demand in excess of 4,218 million units from domestic and international investors.

The final retail price has been set at RM0.96 per unit (Final Retail Price), representing a discount of 5% to the Institutional Price.

Speaking from London at the conclusion of Starhill REIT's global roadshow, Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Chief Executive Officer of Pintar Projek and Managing Director of the YTL Group, remarked, "The resounding success of Starhill REIT's public offering has exceeded all expectations and represents to us that domestic and international investors alike are voting with their purses and hearts, expressing their overwhelming support, not just for this groundbreaking transaction and for the YTL brand, but for the Malaysian capital markets as well – demand from institutional investors outstripped domestic demand by a factor of 2 to 1".

"The abundant demand for units under the Retail Offer was particularly heartening, given the large number of IPOs and bearish sentiments prevailing in the local market at this time. Starhill REIT is off to an excellent start and it is now up to us to ensure that our new unit-holders are well-rewarded by this investment".

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"the said Municipality of George Town shall on the First Day of January in the Year of our Lord one thousand nine hundred and fifty seven and forever thereafter be a city and shall be called and styled the CITY OF GEORGE TOWN instead of the Municipality of George Town and shall thenceforth have all such rank, liberties, privileges and immunities as are incident to a city." - Queen Elizabeth II

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Property consultants say investors were attracted to Starhill's secure Reit income, possibly because they are familiar with the shopping malls and hotel to be injected into the trust.

Despite less-than-enthusiastic local interest, Starhill Reit's initial public offering attracted an oversubscription rate of nearly 9 times. That 68 per cent of the 509.6 million units was snapped up by foreign investors also underscores the belief foreign investors have in YTL Corporation, which owns the assets to be injected into the Reit. Post-listing, YTL will own 51 per cent of the Reit.

According to an article posted by FinanceAsia.com on YTL's community website, local investors took up 32 per cent of the offering.

UK investors topped the foreign portion at 20 per cent, only marginally ahead of Singaporean buyers, who accounted for 19 per cent. The rest of the units were split between Hong Kong (11 per cent), Europe (10 per cent), and 8 per cent to other countries.

At RM1.01 per unit for institutional investors and RM0.96 for domestic retailers, the Starhill Reit will yield over 6 per cent. Foreign investors were not deterred by Malaysia's 28 per cent withholding tax on non-residents.

In any event, the Reit - which begins trading on Bursa Malaysia on Friday - is committed to paying out all of its earnings in financial years 2006 and 2007. 'It's attractive for investors even at 5-5.5 per cent,' said Zerin Properties chief executive officer Previndran Singhe. 'People aren't investing in it so much for growth as for the recurring income.'

Another reason for the large foreign interest in the Starhill Reit is the 'YTL factor', he added. 'Everyone also wants to invest in a part of YTL, which probably has one of the most cash-rich businesses in Malaysia. Furthermore, Tan Sri is taking a personal interest in the Reit,' he said, referring to YTL Corp MD Francis Yeoh.

Over the years, Mr Yeoh has successfully expanded the construction company founded by his father Yeoh Tiong Lay into one of Malaysia's biggest conglomerates with interests in utilities, hotels, property, cement and technology.

One of Mr Yeoh's smartest moves was to acquire at fire-sale prices the property assets being injected into the Starhill Reit - a portfolio comprising the Lot 10 Shopping Centre, the recently refurbished Starhill Gallery and the adjoining JW Marriott Hotel. The Starhill Gallery used to house the Malaysian outlet of Singapore's CK Tang, which was later shuttered owing to poorer-than-expected sales. The property was sold to YTL Land in 2003 for RM77 million.

After the Asian financial crisis brought property company Taiping Consolidated to its knees, YTL Corp stepped in and took control of Taiping Consolidated via a reverse takeover of the company, which it later renamed YTL Land & Development. The three Starhill Reit-bound properties were purchased for RM323 million but are now worth some RM1.2 billion. Investors are obviously counting on Mr Yeoh and YTL Corp and its war chest of over RM5 billion to grab more assets should the opportunities arise again.

Mr Yeoh has said that 80 per cent of the proceeds raised from the Starhill Reit would be used to acquire more property assets in Malaysia, as well as in the UK and America. 'There is an abundant supply of properties that could fit into the Starhill brand in Malaysia and other countries. We won't run short of appropriate properties to fit into Starhill Reit.'

A 70 per cent owned unit of YTL Corp, Pintar Projek, will manage the Starhill Reit and has said it plans to establish Starhill shopping centres in a number of cities in the region.

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